People v. Atlantic Mutual Life Insurance
New York Court of Appeals
Appeal from order of the General Term of the Supreme Court, in the third judicial department, affirming an order of Special Term, which enjoined and restrained the said The Atlantic Mutual Life Insurance Company from the further prosecution of its business, appointed a receiver of its assets, and vested in him all its estate, real and personal, “ including the securities deposited with the superintendent of the insurance department.”
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Appeal from order of the General Term of the Supreme Court, in the third judicial department, affirming an order of Special Term, which enjoined and restrained the said The Atlantic Mutual Life Insurance Company from the further prosecution of its business, appointed a receiver of its assets, and vested in him all its estate, real and personal, “ including the securities deposited with the superintendent of the insurance department.” The order, as originally entered, declared that said company “ is excluded from its corporate rights, privileges and franchises and dissolved.” On motion of the…
1Opinion of the CourtFolger, J.
The point made by the appellant; that it should have been made to appear in detail to the Special Term, in what way and upon what evidence, the superintendent of the insurance department, came to the opinion, that the appellant was in such condition, as to render its continuance in business injurious to the public interests ; is not well taken. The reasons why it is not, are well stated in the opinions in the court below, and need not be paraphrased or repeated.
The point, that the value of the policies of the defendant, should have been estimated at a gross, instead of a net valuation, is…
2Cases cited1 opinion
- In re World's Safe InsuranceNew York Supreme Court · 1861
3Cited by2 opinions
- Attorney-General v. North America Life InsuranceNew York Court of Appeals · 1880
- Attorney General v. Atlantic Mutual Life InsuranceNew York Supreme Court · 1885